Indian CEO

Fintech startup CashRich raised Seed Fund

Mumbai-Based startup, CashRich have raised an undisclosed amount of seed fund through their remarkable investors from UK. The application is in its BETA phase and it is scheduled to roll out in upcoming months.

CashRich is Smartphone application which helps people to manage their money. The company complies with SEBI (Security Exchange Board of India) regulations and helps to secure investments, transactions along with multiple fund housing. CashRich is currently seeking for more investors, financial partners and asset management.

Sougata Basu the founder and CEO of CashRich say that “CashRich operates in India’s growing wealth management space. It empowers users with an intelligent tool to investment transactions and uses data mining for personalization. However, we do not provide specific scheme-level investment advice.”

Dr Sayan Ranu, from IIT-Delhi is the advisor of CashRich and guides them in developing proprietary algorithms. He says “The financial industry is undergoing a data revolution. Today, we have access to high volumes of personal, demographic and market. I am pleased to see CashRich bring machine learning to wealth management in India.”

CashRich team consists of engineers and finance professionals with a mission to use latest technology and democratize wealth management. The company claims to have potential disruption in the market. The free mobile app aims to ensure the transaction to be secured, manage their mutual funds and to bring better investment experience. Read more on Funded Indian Startups.

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Startups generally celebrate every small reason, But if the reason is about a milestone achievement then it makes a big difference. This victorious path is not an easier one and we have faced and surpassed many challenges in the last few months to meet our target of half a million visitors. While our ambition is a much bigger number, the target we achieved was planned towards the end of the financial year and our team made it possible 4 months in advance.

Indeed a great effort by Shishir Kumar and the entire team and a special thanks to the avid readers of IndianCEO for following us. IndianCEO is indeed my first bet in to media business and believe me this is just the beginning. Early next year we have some great product announcements and our next milestone is not far away.